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English definition of “opportunity cost”

opportunity cost

noun [C or U]
 
 
ACCOUNTING, FINANCE the value of the action that you do not choose, when choosing between two possible options: If we do take on the project, we need to think about the opportunity costs involved. The opportunity cost of studying at university for three years is the three years of pay that you do not earn during that time.
(Definition of opportunity cost from the Cambridge Business English Dictionary © Cambridge University Press)
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